HK Stock Market Move | MNSO (09896) Surges Over 6% in Early Trading; Flagship Proprietary IP YOYO Tops RMB 1 Billion in GMV for First Three Quarters

MNSO (09896) rose over 6% in early trading. As of press time, it was up 4.12% at HK$19.98, with a turnover of HK$57.7008 million. On the news front, MNSO announced that its flagship proprietary IP YOYO achieved GMV of over RMB 1 billion in the first three quarters of 2026, joining the global IP "RMB 1 Billion Club." It is reported that during the 2027 Spring/Summer Paris Fashion Week, YOYO will land in Paris for the second time, with the theme "Chinese Design, For Example," collaborating with more Chinese designers, artists, and brands. Goldman Sachs noted that MNSO accelerated to a 27% year-on-year increase in September (up 21% year-on-year in the third quarter), broadly consistent with the company's announcement that US GMV rose about 20% in the third quarter and over 30% in September, with same-store sales turning positive, driven by the arrival of new products, and overall overseas performance broadly in line with guidance. In addition, the global GMV of its proprietary IP "YOYO" exceeded RMB 1 billion in the first nine months of 2026, higher than the global GMV target of RMB 800 million to RMB 1 billion set at the beginning of the year.